Pay off debt before investing?

2 Replies

@Travis Billings we will need some more details...what kind of debt? Credit cards, student loans, etc.?

What interest rate? How much debt? What are your monthly payments on each loan?

Do you have a lump sum of money now to invest vs pay off your debt?

If you can manage your current debt levels at your current income and qualify for loans, refi's, then there is no reason not to get started in investing. People on this site all the time say to wait until you are out of personal debt, that could take years for some people. The most important thing to do is to get that first property under your belt as soon as you can.

One must be smart about investing, as you willo need reserves for repairs, vacancies, etc... If you have those then a little debt won't hurt you.